It's still a Buyer's Market for Inland Empire home sales. The Housing and Economic Recovery Act of 2008 signed by President Bush in late July offers encouragement to home buyers to jump into the market now, before rising interest rates rise and seller-financed down payment assistance programs end October 1, 2008.
July home sales statistics are due to be released this week and will be reported on my website; you can click on http://marketreport.ilajosephs.com for a direct link.
I'm also adding a new section to my weekly report this week. Look below for a comparison to home sales data for February 17, 2008, and see the changes that have taken place in the past six months.
The following information was compiled from information reported in the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by real estate professionals in the Inland Valley region of Southern California:
The following information was compiled from information reported in the Inland Multi-Regional Multiple Listing Service, which shows listings and sales of previously-owned homes reported by real estate professionals in the Inland Valley region of Southern California:
Homes for Sale: The MLS said 18 new Upland listings were added during the week, for a total inventory of 330 previously-owned homes listed in Upland on August 17, including 230 single-family homes with no monthly fees and 100 condominiums, town homes and single-family homes in associations. The MLS listings indicated 116 of homes currently on the market were vacant. Of the homes for sale in Upland, 68 were listed as "short sales" and 39 were being sold by the lender, according the MLS listing information.
Homes for Lease: As of August 17, the MLS reported, 46 Upland homes were available for leasing. Of those, the median monthly rental price was $2,100.
Homes Sold: Five previously-owned homes closed escrow in Upland, CA, during the week ending August 16, 2008, and 10 Upland homes reportedly were listed as pending during the week, according to the MLS.
Compare to Six Months Ago: On Feb. 17, 2008, the number of previously-owned Upland homes listed for sale in the MLS was 385, including 263 single-family homes with no monthly fees and 122 condominiums, townhomes and single-family homes in associations. Realtors reported six sales of homes in Upland during the week ending Feb. 17, 2008, according to the MLS.
Ila Josephs, an associate Realtor with Tarbell, Realtors, prepares weekly market activity reports for her website, www.ilajosephs.com, surveying the cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, San Dimas and Upland. For more information, call Ila at (909) 261-3541.
Whether you are buying or selling real estate in cities along the 210 Freeway from San Dimas to Fontana, or in Ontario, Montclair or Chino, Ila and her team of experienced professionals will be happy to assist you.
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